==> Pls visit new site at http://malaysia-today.net/ <==

Press statement by Dato’ Ch’ng Toh Eng, MCA Central Committee Members and chief of MCA New Villages Bureau

While the announcement at the National Rubber Small Holders Co-operative AGM by the Minister of Rural and Federal Development Minister YB Tan Sri Muhammad Muhammad Taib that the ministry would write-off debts worth RM 139.64mil involving 33,957 rubber smallholders in view of rising cost of living will be welcomed by the borrowers, “clarification is needed on the basis and method that will be used to write-off the debts.” The clarification was sought by Dato’ Ch’ng Toh Eng, MCA Central Committee member.

“It is important for tax payers to be informed on which authority will pay off the debts to the government, method of calculation and how it will be done to ensure transparency. The ministry should take all necessary steps to avoid its decision being misconstrued as taxes being deployed to bail out borrowers who may not be servicing their loans or that the government suffered financial losses when lending out these loans,” said Toh Eng who is also the chief of MCA New Villages Bureau.

Toh Eng then inquired, “for borrowers who have finished settling all their loans, will the ministry reimburse them the amount which they have fully paid up?” He also voiced concern that “borrowers who have regularly and responsibly serviced their loan at each month may also cry foul and cease servicing their loans altogether.”

Meanwhile, Toh Eng also asked, “are there any loan defaulters at the moment? In MCA, we always encourage financial prudence. With such an announcement whereby the ministry would write-off debts, we are alarmed that an increase of non-performing loans may occur as borrowers may not have the inclination to be responsible in repaying their debts.”

Toh Eng also highlighted that the genuine intention of the government to alleviate the rakyat’s burden and eradicate poverty may be abused in the process. “We are also concerned that the rate of borrowers misusing government loans for other intentions may grow. As it is, The New Straits Times on 29 May 08 reported that ‘more than RM70 million worth of subsidized diesel has been smuggled out of the country, with fishermen being identified as the main culprits.’” NST had reported that fishermen could make a profit from selling subsidized diesel to Thailand and Indonesia without going to sea.

/End

For further inquiries, please contact MCA HQ Publicity Department, 03-21618044, Tee Kiat Siong (ext 432) or Ivy Tan (ext 408)

Comments (13)

...
written by Mr Smith, June 19, 2008 15:59:41

That is why you MCA idiots should leave BN and join Pakatan. The fact is MCA is part of the government but it always pleads with UMNO for favours and handouts.
Apparently, MCA found its voice only after the March 8 defeat. Before that it was blind to all the UMNO abuses.
When will MCA realize that UMNO has been treating it like shit?

report abuse

disagree 0

agree 24

...
written by joemss, June 19, 2008 16:01:55

I thought he was put there in order to sort the problem like the saying goes
"It takes a thief to catch a thief" but he is releasing all the borrowers. Look at our BN goons, if cannot collect we write-off, if not enough after that we give somemore and then cannot return, we write-off again. The rakyat's money is at his whimps and facies. I thnk the loan can be re-scheduled with a lower payment monthly or something to the effect. Reduce subsidies in fuel but spend like a lord on problems like this. Really penny wise but pound foolish. MCA is trying to check and balance now but I do not think they will last long in the coalition either because they are putting too much pressure to them now. UMNO may ask MCA to leave BN rather than MCA making the move. This will be interesting to see whether MCA get sack or leave on their own. SAPP will be the beginning.

report abuse

disagree 1

agree 11

...
written by temenggong, June 19, 2008 16:23:46

MCA man trying to talk big and talk cock to impress us.

The BN policy was, as MCA and everyone knows, is first to give out loans, then after some years to write it off on the pretext of assisting smallholders, when though rubber prices are at its highest, like now!!

The Dato should know very well that of the 33,9957 loans to small holders, about 31,000 would be malays. As if this fcuker didn't know! This is the BN way to 'distribute' money.

What this fcuking Dato should know is that Malaysia cannot sustain rubber or any plantations and all should be phased out, so that the rakyat's money won't be permanently wasting away!

Call for the phasing out of plantations. It is yesterday's third world economy and no longer feasible for Malaysia. It can only be kept alive artificially by using foreign labour.

report abuse

disagree 5

agree 7

...
written by Sean E, June 19, 2008 16:25:30

It is very easy for Muhammad Muhammad Taib to write-off debts worth RM 139.64 million involving 33,957 rubber smallholders, because it is not his money but the rakyat's money. Ang gain cheap popularity in the process.

It isn't it good practice to study each and every case and only waive those cases that merit it. Not a blanket waiver.

report abuse

disagree 0

agree 12

...
written by BORN FREE, June 19, 2008 16:28:29

Another ball carrier talking on behalf of the BN goons !
MCA will also be the "shadow" and "rundog" of BN !
They cannot live on their own ! They have got no pride of
their own, even they were treated like pariahs, they
will always lick their asses of those cronies in power !!
Where is your dignity ??

report abuse

disagree 0

agree 8

...
written by rayfire, June 19, 2008 16:28:34

This is called bulk processing, where in most cases, the honest and worthy people whom should get the benefit will be left out and all those who defaulted and playing hide and seek with the authorities get rewarded for their lack of responsibility.
Good of you to point out, but then, what is the next course of action? This is NOT the first time such tactic is used to appease a small crowd but in the back they go on to swindle by the billions.
So MCA, do you STILL have a good conscience of serving the people?
If yes, MAKE THE RIGHT CHOICE!
For us, the PEOPLE OF MALAYSIA!

report abuse

disagree 0

agree 8

...
written by macaufan, June 19, 2008 16:34:33

MCA try to b BIG Brader to talk on behalf of rakyat BUT when umno taiko shout at them "U cina shut up & if u tak suka, cina boleh balik Tong San"
MCA will definitely chicken out ! hahahahahaaaa.... shame on u MCA !
only DAP is brave enaf to stand against regime umno for >50years ! keep it up DAP, Rocket up up....& away !

report abuse

disagree 0

agree 10

...
written by joejoe, June 19, 2008 16:53:19

Where can I apply for such a loan? I would love to be a defaulter !

report abuse

disagree 0

agree 7

...
written by little dragon, June 19, 2008 17:09:14

when did d RAKYAT give its permission for m&m to write off these debts???

so now, who is going to settle d loans? m&m personally?

report abuse

disagree 0

agree 5

...
written by fairnessforall, June 19, 2008 18:15:57

Can the government also get all banks to write off all the unsecured loans such as defaulters of credit cards etc. I also will default then. F they are sincere in wanting to help the help everyone, not just only rubber small holders. Ask Bank Negara to issue a ruling that all credit card loans defaulted and other unsecured loans to be written off. After all bank always have provisions for this write off, only difference is that all these while they only write off the loans of all the rich menteri besar and ministers who can actually pay but dont want to, but will go after the poor people who are struggling to make ends meet, like a dog chasing a cat. Now banks should be instructed to also let the common man enjoy this facility of writting off their loans, and not just the rich bastards.

report abuse

disagree 0

agree 5

...
written by seethinkact, June 19, 2008 19:36:34

Now even more evidence why the dozing off no good FM I (PM) and FM II with the girlish voice (FM = Finance Minister)is screwing our economy and along the way our bellies too, BIG time. Screw them really and who's shit idea was it to give away our money for nothing?

They just dont get it do they?... To write off, you must first meet conditions stupid.
1. Have they done what needs to be done to recover these easy loans?
2. Have they identified who these defaulters are?
3. Have reminders and notices to pay up been sent?
4. Have letters of demand been sent?
5. Have summonses been sent for them to appear in court?
6. Have they identified problems these defaulters have in servicing these loans?
7. Have they identified the kind of assistance that could be rendered to these defaulters to get them to pay up?
8. Have these defaulters been referred to AKPK?
9. If the above cannot, then get a ruling and only then write-off la.

MCA, apa tunggu lagi? Nows your chance to show your heroics in saving rakyat's money

report abuse

disagree 1

agree 5

...
written by Vincent, June 19, 2008 19:53:04

With all these comments, it really ashame to be member of MCA. Lucky I'm not one of them.

report abuse

disagree 1

agree 2

...
written by agadam magadam, June 20, 2008 01:00:10

Who the Hell is this 'Goblok" to write off the taxpayers money without any consultation from us; the Rakyat ?? The amount is 'chicken feed' compared to the amounts he has squandered,, So ask this a#@!hole to use his stolen money to offeset those monkeys' loans..
The usual story-who benefits? The so-called lazy, under priveleged bums..

report abuse

disagree 0

agree 2